It’s the age old question, rent or buy? Undeniably, rent is going up and up, in fact, according to the U.S. Census Bureau, median rent continues to rise. With today’s low mortgage rates, there’s great opportunity for current renters to make a move into homeownership that stretches each dollar a little bit further.
Here are three major considerations to purchasing vs renting as discussed in this article in KeepingCurrentMatters.com.
1. Rent Will Continue to Increase
Rent will continue to rise year after year. Once you own your own home ,you’ll lock in your monthly payment for the life of your loan, creating consistency and predictability in your payments.